Latin Resources all set to roll out more lithium at Colina West

Latin Resources’ Salinas project is proving to be a cracker with its resource definition program uncovering a new lithium zone about 500m west of its Colina prospect.

Drilling at the new Colina West prospect returned multiple high-grade lithium-bearing pegmatites in hole SADD033 with assay results of 1.78m grading 1.33% Li2O from a down-hole depth of 120.53m, 1.67m at 1.36% Li2O from 275.38m, and 18.71m at 1.32% Li2O from 321.15m including 4m at 1.94% Li2O from 322m and 4m at 1.58% Li2O from 334m.

This more than confirms the company’s previous report that it had intersected a new swarm of spodumene-bearing pegmatites at the prospect.

While results from a single hole – no matter how significant – are insufficient for the definition of resources. It is nonetheless a very strong indicator that there’s plenty of lithium to uncover at the Salinas project.

And that’s not all…

Latin Resources’ (ASX:LRS) latest assay result from the resource definition drilling at the Colina prospect have not only continued to confirm the continuity of grade along depth and strike, they have also returned the highest-grade intersection to date.

Hole SADD031 struck a 4.17m interval grading 5.79% Li2O from 309.1m within a broader 8.45m zone at a still respectable 3.57% Li2O from 306m as well as a separate 3.15m interval at 2.12% Li2O.

“The significance of these latest results from hole SADD033 cannot be understated. They confirm that we have a second zone of high-grade lithium bearing pegmatite only 500m to the west of the main Colina resource drilling,” exploration manager Tony Greenaway said.

“This new zone is open in all directions including along strike to the north and south, up-dip to the mapped outcrop which drew us to this area and extending at depth to the east beneath Colina.

“Colina West has the potential to add considerable resources to the Company’s maiden JORC Mineral Resource Estimate, which is on track to be delivered in December this year and proves the exceptional prospectivity of the wider project area to the west where the company has mapped even more outcropping pegmatites that are yet to be drilled.

“Now that the drilling needed for the maiden inferred mineral resource estimate for Colina is completed, we can let loose with drilling at Colina West, with the aim of potentially incorporating this second area into the PEA and other studies that the company has underway.”

Assays are pending for the remaining holes drilled under the now completed resource definition program while the maiden JORC resource for Colina remains on track for delivery in December 2022.

Colina West and further activity

The diamond hole SADD033 intersected a previously untested zone of mineralisation with logging highlighted 15 separate pegmatites, many of which returned significant lithium grades.

Latin Resources is now planning further drilling to prove resources at Colina West as well as test southern extensions of the main Colina Prospect.

Metallurgical testwork is also ongoing after initial first pass sighter test work achieved high recoveries of 78.72% of the Li2O content within a concentrate grading a very high 6.57% Li2O – well above the typical 6% Li2O benchmark which is effectively priced at US$7,708/t based on Pilbara Minerals’ latest record pricing for lower grade 5.5% Li2O concentrate.

Further sighter test work is underway, with additional samples currently being dispatched to the laboratory.

These additional sighter tests will further explore the optimal crush size, and additional heavy liquid separation (HLS) cut points, and fine fraction flotation in order to optimise the larger test work flowsheet for the planned detailed Preliminary Economic Assessment (PEA).

This article was developed in collaboration with Latin Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.